- Competition in the sector bitcoin ETF grows:Morgan Stanley is the first bank to launch its own ETF based on BTC.
- The commission for the bank’s wealthy clients is set at the lowest level on the market at 0,14%.
- According to a Bloomberg analyst ETF, this bank manages the vast fortunes of baby boomers.
Investment bank Morgan Stanley plans to launch a spot Bitcoin- a fund with a commission of 0,14%, which will make it the cheapest in the US market and possibly force competitors to lower their commissions to remain competitive.
This is a serious step. They’re not joking,” a Bloomberg analyst wrote. ETF James Seyffarth.
He also predicted that Bitcoin Morgan Stanley Trust (MSBT) “likely to launch in early April.”
The 0,14% fee proposed in Morgan Stanley’s latest announcement S-1 registration to the US Securities and Exchange Commission, will be one basis point lower than Grayscale’s Bitcoin Mini Trust ETF (BTC), which is currently the cheapest on the US market. Furthermore, fees will be 11 basis points lower than iShares. Bitcoin Trust ETF (IBIT) from BlackRock.
If approved by regulators, Morgan Stanley will become the first bank to issue a spot bitcoin ETF, which will expand access to Bitcoin for millions of wealthy clients.
This bank is the main manager of the huge money of baby boomers, – wrote Bloomberg analyst ETF Eric Balchunas.
He also noted that, thanks to the low fees, none of the bank’s nearly 16,000 financial advisers managing $6,2 million in assets would feel conflicted about recommending the product to their clients.
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